Recent content by WatanFX-Rep

Without getting into the semantics of this topic which would basically be a futile attempt, as an example, the banks that acquired euro assets (cross border conversions) when euro was trading at say 1.14 are now in a loss. Large banks have to hold all types of currency assets by rule. The...

If you want to do it professionally, then give yourself a window of at least 5 years.

$1 per pip for $200 means you possibly only have 100 pips or so (keeping slippage and margin requirements in place) worth of capital before you get wiped out. Unless you are doing forex for gaming entertainment (which 98% of retail participants do), I would advise against 0.1 lots for a $200...

In the long context of things, yes. My point was that whether it is one counter-party vs the trader or a dozen counter-parties vs trader, the "added costs" of a trade on short term horizons kills all the profits, even if the trader wins 100% of the time. 100k tickets are not delivered with 0.2...

Keeping your losses to 10 to 15 pips in a variable execution environment in unbelievable. I am not saying you are mis-representing facts, but it is really not possible, unless your market maker really always executes with a 1 to 2 pip spread without any slippage. In a real environment, and...

First real trade in 2003 (chinese ADR stock), last live trade in 2009 (FXCM) before I moved to the sell-side of the industry and never looked back since. Am in early 30s.

From Pakistan here, I can do english, urdu and punjabi. I can't read or write hindi but can understand the spoken bit for sure.

Yes, one good trade a month or every 6 months does just fine. However, repeatedly one fails to fathom is that retail forex industry works on the same mechanism as the gambling industry. Majority of the participants entering these markets do it for the fun of it, and for quick money, not to...

It is near impossible to trade short time horizons with fundamentals only. The only way it works is if one is strictly doing "news trading," and execution matters here quite a bit. Even large banks widen spreads during sharp falls and rises. This is one little nuisance among many in this...

Being regulated by CySEC does not necessarily mean a broker cannot be scamming their clients. There are numerous forex brokers that are listed under fpa as scams, but are fully regulated with proper offices in cyprus.

Indicators are useful when a strategy adopts a contrarian outlook instead of a breakout. Banks mostly focus on breakouts all day long, whereas hedge funds (buy-side) usually lean towards contrarian biases.

I always suggest the clients who do not like to use stop losses to deposit only that amount which they are willing to lose fully. So in a scenario, where a person does not want to use a stop-loss, and say has $10,000, just deposit $1000 or $2000 or $5000. In retail trading unless one is...

Stick to your job as a lab assistant. General retail forex trading should never be treated as a full time career, unless you are working for an investment bank or a hedge fund. Forex trading should be taken as the means to grow your capital, not provide you with a consistent recurring income.

There are two ways to look at it without being bias First everything there is to know is already available for free across the internet. There are people who like a class room type environment, because they like the interaction with other folks. One could argue the same for libraries vs going...

Here you go Ex Deutsche Bank trader, who now manages money for a family office. I would suggest all new forex traders watch it because he gives some insights on how the big banks work.